Treasury Secretary Tim Geithner asked Congress for the authority to take over any financial institution he deems could be bad for our economic health. I think he should immediately seize George Soros’s hedge fund. Why isn’t he regulated?
A hedge fund manager who predicted the global credit crunch has said the financial crisis has been ‘stimulating’ and the culmination of his life’s work.
George Soros, who predicted the global financial crisis twice before, was one of the few people to anticipate and prepare for the current economic collapse.
Mr Soros said his prediction meant he was better able to brace his Quantum investment fund against the gloabal storm.
But other investors failed to take notice of his prediction and his decision to come out of retirement in 2007 to manage the fund made him $US2.9 billion.
And while the financial crisis continued to deepen across the globe, the 78-year-old still managed to make $1.1 billion last year.
‘It is, in a way, the culminating point of my life’s work,’ he told national newspaper The Australian.
The culmination of his life’s work, huh? Interesting. But anyhoo, if the government’s going to start seizing companies why not start with Soros? Obama could use it to fund his grand plans.
